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• $1.7 billion invested in telecommunications each year• 250 per cent increase in number of fibre connections in the year to September 2015• Mobile pricing dropped 46 per cent from 2012 - 2014• Mobile data volume will increase seven-fold by 2019

New Zealand has a telecommunications sector outperforming its OECD counterparts in a number of ways according to a report released by an industry lobby group.

Thorn said the sector provided services that were competitive in price compared to other countries. Consumers now expected fast, ubiquitous connectivity in the same way they expected running water and power, he said.

The report said households costs for telecommunications services are declining and New Zealand's ICT sector contributed more to the GDP than any other OECD country.

Russell Stanners, chief executive of Vodafone, said the telecommunications sector should be proud of what the report said.

"We need to be on the front-foot and be proud as an industry and a country of what we're doing here... We've got a good story happening."

The report comes the day after the Commerce Commission said consumers can be more confident about the fairness of standard contracts with telco companies after persuading them to change certain terms it thought were unfair. The terms related to limitation of liability, unilateral variation of services, contracting out of consequential loss, and responsibility for unauthorised charges

The Ministry for Business, Innovation and Employment is currently reviewing the telco legislation which looks set to align regulated prices for fibre and copper-based services, using a similar framework to the electricity sector.